Bank of America Corp DE Grows Stock Holdings in Ally Financial Inc. $ALLY

Bank of America Corp DE increased its position in Ally Financial Inc. (NYSE:ALLY) by 7.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,889,620 shares of the financial services provider’s stock after buying an additional 190,514 shares during the quarter. Bank of America Corp DE’s holdings in Ally Financial were worth $113,360,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ALLY. Norges Bank purchased a new stake in Ally Financial during the 4th quarter valued at approximately $157,610,000. Wellington Management Group LLP increased its holdings in shares of Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock worth $646,347,000 after purchasing an additional 2,332,610 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Ally Financial by 8,255.7% in the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock worth $48,231,000 after buying an additional 1,215,659 shares in the last quarter. Soros Fund Management LLC lifted its position in shares of Ally Financial by 128.8% in the fourth quarter. Soros Fund Management LLC now owns 1,687,493 shares of the financial services provider’s stock worth $76,427,000 after buying an additional 949,793 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Ally Financial by 11.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider’s stock valued at $266,134,000 after buying an additional 712,443 shares during the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALLY. Royal Bank Of Canada lifted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Barclays increased their price objective on shares of Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Citigroup decreased their price objective on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ally Financial has a consensus rating of “Moderate Buy” and an average target price of $53.64.

Insider Activity at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $43.70 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The firm has a market capitalization of $13.29 billion, a P/E ratio of 10.31, a PEG ratio of 0.27 and a beta of 1.10. The company has a 50 day moving average price of $44.59 and a 200 day moving average price of $42.54.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. Sell-side analysts expect that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, July 31st. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.